Nvidia Names CFO Colette Kress as Interim CEO Following Jensen Huang’s Resignation

Nvidia has appointed its longtime Chief Financial Officer, Colette Kress, as interim CEO following the resignation of cofounder Jensen Huang. The leadership change comes after reports surfaced regarding an extramarital affair between Huang and a businesswoman suspected by U.S. officials of being an asset for the Chinese Ministry of State Security. The company’s board has initiated an independent investigation into Huang’s activities.

Kress, who joined Nvidia in 2013, was selected for her extensive knowledge of the company’s financial operations and her established credibility with investors. Board chair Harvey Jones stated that Kress is supported by an experienced leadership team and possesses a deep understanding of the firm’s customers and business strategy. Before her tenure at Nvidia, Kress held senior finance positions at Cisco, Microsoft, and Texas Instruments.

While other executives like Ian Buck and Jeff Fisher were considered potential successors, industry analysts suggest Kress was the most logical choice due to her unique insight into the company’s internal budget and financial structures. Nvidia operates with a non-traditional hierarchy where many executives reported directly to Huang, making Kress one of the few individuals with a comprehensive view of the organization’s fiscal health.

What to watch next: The results of the independent investigation into Huang’s ties and any potential impact on Nvidia’s compliance with U.S. chip export controls.